Labor Impact Fund, L.P. 4
4 · SHENANDOAH TELECOMMUNICATIONS CO/VA/ · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
Shenandoah Telecom (SHEN) Director GCM Grosvenor Converts 10,924 RSUs
What Happened
- GCM Grosvenor Inc., reported as a director designee, converted/exercised 10,924 derivative awards (restricted stock units) into common shares on 2026-02-18 (transaction code M) and immediately disposed of 10,924 shares to the issuer for $0 (transaction code D). The filing reports no cash proceeds from the disposition.
- The underlying awards are restricted stock units (each RSU equals one share) granted in connection with director service; footnotes state these awards were made to director James DiMola and are held/transferred at the direction of LIF Vista and affiliated reporting entities.
Key Details
- Transaction dates: 2026-02-18 (exercise/conversion and disposition); Form 4 filed 2026-02-19 (timely).
- Quantity: 10,924 shares converted and 10,924 shares disposed to issuer; reported price for the disposition: $0.00; no dollar amount received reported.
- Shares owned after transaction: not specified in the provided excerpt of the filing.
- Notable footnotes: multiple affiliated entities filed jointly and disclaim beneficial ownership except for pecuniary interest (see F1, F3–F4). The awards were tied to James DiMola serving as the board designee and were transferred/held for LIF Vista or affiliates upon vesting.
- Transaction codes: M = exercise/conversion of a derivative; D = disposition to the issuer.
Context
- This was a derivative conversion of RSUs followed by an immediate disposition to the issuer. Such immediate dispositions can reflect transfer arrangements, withholding, or internal handling of vested awards; the filing does not specify the reason.
- The reporting group is an institutional/affiliate reporting arrangement (not a typical individual executive sale), and the parties expressly disclaim beneficial ownership except for any pecuniary interest. There is no indication of personal cash proceeds or an open-market sale.
Insider Transaction Report
Form 4
GCM Grosvenor Inc.
DirectorOther
Transactions
- Exercise/Conversion
Common Stock
[F1][F2][F3]2026-02-18+10,924→ 10,924 total(indirect: See footnote) - Disposition to Issuer
Restricted Stock Unit
[F2][F3]2026-02-18−10,924→ 0 total(indirect: See footnote)From: 2026-02-18Exp: 2026-02-18→ Common Stock (10,924 underlying)
Holdings
- 4,105,126(indirect: By LLC)
Common Stock
[F1][F4]
Footnotes (4)
- [F1]This Form 4 is filed jointly by LIF Vista, LLC ("LIF Vista"), Labor Impact Fund, L.P. ("Labor Fund"), LIF AIV 1, L.P. ("LIF AIV"), GCM Investments GP, LLC ("GCM GP"), Grosvenor Capital Management Holdings, LLLP ("Grosvenor Capital Holdings"), GCM Grosvenor Holdings, LLC ("GCM Holdings"), GCM Grosvenor Inc. ("GCM Grosvenor"), GCM V, LLC ("GCM V") and Michael J. Sacks (collectively, the "Reporting Persons"). Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F2]Each restricted stock unit represents a contingent right to receive one share of common stock.
- [F3]Represents securities awarded to James DiMola in his capacity as a director of the Issuer. Mr. DiMola currently serves as LIF Vista's director designee on the Board of Directors of the Issuer. In connection with this arrangement, any equity-based securities awarded to Mr. DiMola in his capacity as a director of the Issuer will be held by Mr. DiMola on behalf of LIF Vista or its affiliates, transferred by Mr. DiMola to LIF Vista or its affiliates, and/or sold by Mr. DiMola, with the proceeds of such sale to be remitted to LIF Vista or its affiliates, in each case as directed by LIF Vista. Accordingly, LIF Vista and the other Reporting Persons may be deemed to have a pecuniary interest in these securities when awarded to Mr. DiMola for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, and such securities were transferred by Mr. DiMola to LIF Vista upon vesting at the direction of LIF Vista.
- [F4]Securities owned directly by LIF Vista. Labor Fund and LIF AIV, as the owners of all the outstanding membership interests of LIF Vista, may be deemed to beneficially own such securities. GCM GP, as the managing member of LIF Vista and the general partner of each of Labor Fund and LIF AIV, may be deemed to beneficially own such securities. Grosvenor Capital Holdings, as the sole member of GCM GP, may be deemed to beneficially own such securities. GCM Holdings, as the general partner of Grosvenor Capital Holdings, may be deemed to beneficially own such securities. GCM Grosvenor, as the sole member of GCM Holdings, may be deemed to beneficially own such securities. GCM V, as a shareholder of GCM Grosvenor, may be deemed to beneficially own such securities. Mr. Sacks, as the manager of GCM V, may be deemed to beneficially own such securities.